Dollarama Q1 profit rises on lower expenses

Montreal – A reduction in selling, general and administrative (SG&A) expenses helped elevate net earnings at Dollarama Inc. 22% to $64.8 million in the first quarter of fiscal 2016 from $53.2 million the same quarter of the previous fiscal year. Sales increased by 13% to $566.1 million from $501.1 million, aided by both new store openings and same-store sales growth of 6.9%.



"Fiscal 2016 is off to a strong start as reflected across our key performance metrics,” said Larry Rossy, chairman and CEO. “I am particularly pleased with the continued increase in sales, which is not only based on our growing store network but just as importantly, driven by strong same-store sales. We will continue to work diligently in order to offer attractive merchandise and compelling value to maintain our status as a preferred shopping destination for Canadian consumers.”